Last week, most cryptocurrencies, including bitcoin, entered a correction phase. However, this week has become one of the most successful for Solana.
Over the past seven days, the token has risen in price by 54% and on Sunday, April 25, reached a new all-time high at $ 48.43. Since the beginning of 2021, Solana (SOL) has risen in price by 2800%.
Solana chart (SOL). Source: TradingView
The Solana Ecosystem Grows
The official Solana says the project offers “a fast, secure and censorship-resistant blockchain that provides the open infrastructure needed for global adoption.”
Over the past few months, the project has expanded into key market segments including Decentralized Finance (DeFi) and Non-Fungible Tokens (NFT).
In the near future it is planned launch of a new service on the Solana blockchain – Star Atlas. Star Atlas is a next-generation gaming metauniverse where players from all over the world can create, play and learn. This is the first platform of its kind on the Solana blockchain. Together with it, NFT technology will appear in the ecosystem.
Recently in the Solano universe there was a platform for decentralized initial offering (Initial Dex Offering, IDO) – Solstarter. Here projects will be able to attract funding and do it in a decentralized manner.
The Solana ecosystem also includes the Raydium project, which is positioning itself as the next generation DeFi. It offers next-level liquidity, easy earnings and fast swaps.
The Solana project is not yet a year old, but it has already established itself in the crypto industry. Now the token is ranked 14th in the ranking of cryptocurrencies with a market capitalization of $ 12.9 billion.
It has already been noticed by such cryptocurrency companies as AscendEX and OKEX. The team even got access to a $ 20 million fund from OKEx’s Block Dream Fund.
It is possible that Solana will be able to compete with Ethereum. However, the project still has a lot to do.
Galaxy Investment Partners CEO Mike Novogratz recently commented on the project, calling it a “good horse”.
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